Cisco to acquire business intelligence startup Accompany for $270m
Businessam Staff
May 2, 2018
Cisco, worldwide leader in IT and networking, announced Monday its intent to acquire Accompany, a privately held business intelligence start based in Los Altos, Calif. The company provides an AI-driven relationship intelligence platform for finding new prospects, navigating the selling process, and strengthening relationships. Amy Chang, Accompany Founder and CEO will join Cisco as senior vice president in […]
Nigeria restates commitment to global fight against terrorism, backs ‘no money for terror’
Businessam StaffApril 30, 2018
The Federal Government of Nigeria has affirmed its commitment to the global fight against the financing of terrorism. Kemi Adeosun, the country’s minister of finance, gave this pledge at an International conference against the financing of terrorism in Paris, France. The conference, which had as theme “No money for terror”, was hosted by Emmanuel Macron, […]
La Liga, Big Cola Nigeria sign regional partnership deal
Businessam StaffApril 26, 2018
LaLiga, the men’s top professional association football division of the Spanish football league system and AJEAST Nigeria, makers of Big Cola, have signed a strategic regional partnership deal for an intensified engagement with the league’s fan base in the country. The strategic deal announced Thursday at a press conference in Lagos makes the multinational beverage company the […]
SEC confirms discussions with MTN Group on $500m initial public offering
Businessam StaffApril 25, 2018
The Securities and Exchange Commission (SEC) Wednesday confirmed it was in discussions with MTN Group on the company’s planned $500 million initial public offering (IPO), bringing to a close speculations that the telecoms company was yet to make a move on listing its shares on the Nigerian Stock Exchange (NSE). According to a News Agency […]
200,000 retirees get N9bn housing fund refund from FMBN
Businessam StaffApril 24, 2018
The Federal Mortgage Bank of Nigeria has made a refund of over N9 billion to 200,000 retirees who made contributions to the National Housing Fund, established to enable Nigerian workers, especially civil servants own their own houses, according to Ahmed Dangiwa, the bank’s managing director, Dangiwa said every NHF contributed by civil servants was refundable […]
ViaDerma Inc. signs $250,000 initial sales agreement with Vage Nigeria Ltd.
Businessam StaffApril 24, 2018
ViaDerma, a pharmaceutical company, announced entering a $250,000 initial sales agreement with Vage Nigeria Ltd, a brand support company that specialises in product sourcing. According to the terms of the agreement, Vage will pay a 50 percent deposit to ViaDerma upon completion of the registration of Vitastem with the National Agency for Food and Drug Administration […]
MTN commences IPO process, selects financial advisers, brokers
Businessam StaffApril 22, 2018
MTN group has commenced the process of its IPO with the appointment of some banks and brokers to help with the listing, including Renaissance Capital, FirstRand Ltd.’s Rand Merchant Bank, Nigerian firm Chapel Hill Denham, Vetiva Capital to work with global co-ordinators Citigroup Inc. and Standard Bank Group Ltd. According to Bloomberg, the financial institutions […]
Wema Bank to issue second tranche of N50bn bond in May to boost capital ratio
Businessam StaffApril 18, 2018
Wema Bank plans to start issuing the second tranche of a Tier II capital increase from next month, which is part of a N50 billion ($159 million) programme, Ademola Adebise, its deputy chief executive said on Wednesday. Adebise said the mid-tier bank hoped to boost its capital ratio, which is at 14.3 percent, higher than […]
Equity Assurance granted extension to submit quarter one result by end May, 2018
Businessam StaffApril 18, 2018
By Oluwaseun Afolabi Equity Assurance has announced that it has been granted approval by the Nigeria Stock Exchange for extension of time to file its 2018 first quarter unaudited financial statement not later than 31st May 2018. In a statement released by the company, John Akujieze, the company’s secretary, explained that “the extension was granted to […]
Election funds, minimum wage review to change inflation curve in Q2
Businessam StaffApril 15, 2018
The impending release of election funds, budget passage in May and the minimum wage review are seen feeding into prices, which would change the current inflation curve, according to analysts. They say the demand-pull effect of increased liquidity could exacerbate inflationary pressure despite headline inflation (year-on-year) declining for the 14th consecutive month to 13.34 percent […]